US futures lead global indices into a sudden rush as we close higher at noon. This is ahead of ben's speech tonight. Judging from the buying, it seems like he may be annoucing something positive. But then again, it is never so easy. This week's actions has seen mostly buying interest, it makes the last few weeks of selling so forgettable. Over the past 2 weeks, I have managed 3 swing trades on STI and profited from the short side. I would have loved to sit on the put warrants, however, when trading the downside, i always remember this: Price when going down should be fast and furious. This is because of the panic and fear factor driving the price south in great speed. Hence when the market met with resiliency, I took my profits and wait to pounce again. I was very tempted to go long as the broad market seems to be having a field day. However, I never forget how easy it is to give profits back to the market and opted to stay out for now.
Screening on my XPertTrader rule, I found 2 sectors looks to have turned around base on weekly chart. If they finish strongly, i may pick up 1 stock. You may want to check out a list of stocks i presented to fellow XPertTraders at workshop here >>> http://www.chartnexus.com/forum/viewtopic.php?t=219
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Friday, August 31, 2007
Friday, August 24, 2007
Dow Jones for now
The current price action brought DJI to a confluence level of upward fibonacci retracement and the top formation resistance. It was also observed that the downtrend line is nearby. RSI looks to be trading at the downtrend line. MacD indicator has a very interesting development. The signal line and MacD line crossed over during the last crash in March'07 and market recovered swiftly. This time round, we are at the same crossover point, the outcome will be interesting.
Join us at SGX Auditorium on the 6th of September 2007,
Profiting from the Bull and Bear Market. Click here for more details
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Tuesday, August 21, 2007
Taking Actions
As seen from my previous posts, I already had a plan and an opinion about where the market is heading. Over the last few sessions, I promptly executed my plans calmly as the market moves in the direction of my anticipations. My plan was to trim down on my stock positions and to trade on the short side.
It isn't difficult to see that rebounds lately had always been a short and quick affair. There was no sustained rebound and this is ringing alarm in my head. Through the weeks, I have dumped my stocks on rebound. Right now i'm left with 3 stocks. Later I will explain the rationale of keeping these 3 stocks. Index wise, i profited from 2 directions in quick trades. 2 weeks ago, STI was supported at 3300, I long the CW and took a quick profit. Today STI tested 3300 as resistance and it failed during intraday, i went for the put warrants and before the end of the day took a quick profit again. HSI's incredible plunge from positive 1000 to negative is a warning. However, a quick check on Dow Jones, it can rebound to 13,300 thereabts and hence i decided to keep my profits first and re look later. I will be tracking global indices for now and will be looking forward to more trades on the indices instead of individual stocks.
I am pleased to inform that there are only 7 seats left in my 2 day Technical Analysis Course, happening from 1st Sept to 2nd Sept. Should the market bottom by then, the concept and strategies shared will come at a good time!
It's very interesting to know that these participants are serious about learning. Despite the current turmoil, instead of feeling frustrated and paralysed, they turned frustrations into actions! They seize this opportunitiy to learn more about Technical Analysis and be prepared for the next opportunity.
GrowMoney Growth Fund
Jasper
HLH
Yongnam
I intend to ride through the storm with the above stocks and dumped the rest at a loss. This loss eroded part of my profits built from Mar'07 to Jul'07. However the profits from Jul'06 to Mar'07 is safe in the bank. This should limit my exposure should the stock market really crash. When market crash, bid and offer spread will be spectacular. In a worse case scenario, there could be no bid queue to sell to. Hence do not take a crash too lightly. I simply do not like the cloud above credit woes and it's impact on the global economy. The most sensible thing to do is to step aside and reassess the situation and get out while i can.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
It isn't difficult to see that rebounds lately had always been a short and quick affair. There was no sustained rebound and this is ringing alarm in my head. Through the weeks, I have dumped my stocks on rebound. Right now i'm left with 3 stocks. Later I will explain the rationale of keeping these 3 stocks. Index wise, i profited from 2 directions in quick trades. 2 weeks ago, STI was supported at 3300, I long the CW and took a quick profit. Today STI tested 3300 as resistance and it failed during intraday, i went for the put warrants and before the end of the day took a quick profit again. HSI's incredible plunge from positive 1000 to negative is a warning. However, a quick check on Dow Jones, it can rebound to 13,300 thereabts and hence i decided to keep my profits first and re look later. I will be tracking global indices for now and will be looking forward to more trades on the indices instead of individual stocks.
I am pleased to inform that there are only 7 seats left in my 2 day Technical Analysis Course, happening from 1st Sept to 2nd Sept. Should the market bottom by then, the concept and strategies shared will come at a good time!
It's very interesting to know that these participants are serious about learning. Despite the current turmoil, instead of feeling frustrated and paralysed, they turned frustrations into actions! They seize this opportunitiy to learn more about Technical Analysis and be prepared for the next opportunity.
GrowMoney Growth Fund
Jasper
HLH
Yongnam
I intend to ride through the storm with the above stocks and dumped the rest at a loss. This loss eroded part of my profits built from Mar'07 to Jul'07. However the profits from Jul'06 to Mar'07 is safe in the bank. This should limit my exposure should the stock market really crash. When market crash, bid and offer spread will be spectacular. In a worse case scenario, there could be no bid queue to sell to. Hence do not take a crash too lightly. I simply do not like the cloud above credit woes and it's impact on the global economy. The most sensible thing to do is to step aside and reassess the situation and get out while i can.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Saturday, August 18, 2007
Federal Chief Cuts Discount Rate
We saw how the markets rebounded late afternoon and then at night, announcement came from US that Fed had cut the discount rate by .5 basis point. Is it coincidence? Or did the privelleged ones closer to information managed to move in first? Why did DJ rebound off 12,500 and close at 12,800s on Thursday night? Smart money also know where they should move price so that the confidence of the market will not be rattled. Hence I do not trade the market using guess work, i form my own opinion and act accordingly. Making use of Technical Analysis, I remain objective in times of panic and will enable me to trade a non random market. Market doesn't move in a random way, there are clues to where it will move and we should all have a Trading System to crack the stock market code.
Source from http://www.federalreserve.gov, Ben Bernanke
In June 2006, Ben holds interest rate hike and that set us off on a wonderful rally for the rest of the year. Now 2007, Ben cuts discount rate and many in the industry are looking at it as a prelude to interest rate cut in September.
12 Aug 2007, wrote about my opinion. Right now market has moved in the direction of my anticipations that is, we are on course to a sustained rebound. If it happens, i will be turning long on index and get out of my stocks on the way up before the rebound ends and turn short. I believe a lower high would be seen. If market still cannot rebound, this is bad because if good news doesn't help the market, there will be no incentive for the market to move up in the near term. Right now, I shall stick by my view until the market proves otherwise.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Source from http://www.federalreserve.gov, Ben BernankeIn June 2006, Ben holds interest rate hike and that set us off on a wonderful rally for the rest of the year. Now 2007, Ben cuts discount rate and many in the industry are looking at it as a prelude to interest rate cut in September.
12 Aug 2007, wrote about my opinion. Right now market has moved in the direction of my anticipations that is, we are on course to a sustained rebound. If it happens, i will be turning long on index and get out of my stocks on the way up before the rebound ends and turn short. I believe a lower high would be seen. If market still cannot rebound, this is bad because if good news doesn't help the market, there will be no incentive for the market to move up in the near term. Right now, I shall stick by my view until the market proves otherwise.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Friday, August 17, 2007
Private Email Exposed
Stupid, who shared his experience on the on-going turmoil in the shoutbox has emailed me to share a list of stocks to study.
These stocks are deemed to be still expensive interms of FA. Here's the email.
Thanks Stupid!
Hi Decipher,
I am STupId from your blog. Hope u can put up this list of stocks that L&S keep promoting and I simply can't see y we have to buy based on conservative FA. Everything has a price, I am not say DON"T buy FOREVER... but they should only be purchased when the price is MORE, much MORE attractive than now. Here it goes (in no particular order, just recalling from my head):
Cheena Steel Trains (Midas)
SIN-OH (Sino Environ)
Strippers (Swiber)
Red heart/Red star (HongXing)
Red country (HongGuo)
China Fertilizer (China XLX)
YangZi(YangZiJiang)
Lord of the YAN(Yanlord, even T**as*k was buying?? gosh, they under the L&S spell?)
Love potion #9(JiuTian)
Cheena Steel Balls (FerroChina, low margin n yet high valuation)
ALL the LANs(capitaLAN, KEPPEL LAN, Shitty DEV, SG LAN... blah blah blah)
Will alert u when I find others...
Good day,
STupId
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
These stocks are deemed to be still expensive interms of FA. Here's the email.
Thanks Stupid!
Hi Decipher,
I am STupId from your blog. Hope u can put up this list of stocks that L&S keep promoting and I simply can't see y we have to buy based on conservative FA. Everything has a price, I am not say DON"T buy FOREVER... but they should only be purchased when the price is MORE, much MORE attractive than now. Here it goes (in no particular order, just recalling from my head):
Cheena Steel Trains (Midas)
SIN-OH (Sino Environ)
Strippers (Swiber)
Red heart/Red star (HongXing)
Red country (HongGuo)
China Fertilizer (China XLX)
YangZi(YangZiJiang)
Lord of the YAN(Yanlord, even T**as*k was buying?? gosh, they under the L&S spell?)
Love potion #9(JiuTian)
Cheena Steel Balls (FerroChina, low margin n yet high valuation)
ALL the LANs(capitaLAN, KEPPEL LAN, Shitty DEV, SG LAN... blah blah blah)
Will alert u when I find others...
Good day,
STupId
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Thursday, August 16, 2007
Support Levels for DJI
Utilising Fibonacci, we can connect the low on early March '07 to the top on mid July '07 and we will get all the retracement levels. DJ has broken the perceived support at 13,228 points which was once the 38.2% support. We saw DJ trading above this support level during late July but this level has now given way. The possible technical support levels in technical analysis are as follows:
200 Day Moving Average is at 12,813 level
Fibonacci 50% Retracement Level
Major Trendline support which is close to 200 Day Moving Average
Download your FREE professional charting software or find out how to automate your stock selection.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Sunday, August 12, 2007
A concerted effort
Central banks all around started injecting funds into financial markets in response to ease credit crunch. This sort of sets off alarms in my head. They didn't act when Bear Sterns went down. However, when BNP's suspension of 2 funds came to light, global markets sell off. It was long thought that the subprime bad loans will not affect the economy until BNP's stunner. Now the world is afraid that the worst fear may be confirmed. My thoughts were, if BNP Paribas can be affected and central banks are acting, there could be more nasty surprises coming.
Isn't financial market interesting? When markets are soaring high, everyone is worried about the bubble in China. But guess what? Uncle Dow was the culprit that punctured the bull run. While I managed to side step the bears by liquidating my whole portfolio when I first detect signs of troubles using Technical Analysis, I am still caught by my initial positions to rebuild my portfolio. I went back into the market too early. If not for the pocketing of profits by liquidating my portfolio , surely i would have commited the sin i was so good at..... turning profits into losses. I would need to reassess my views on where the market is likely to head and then act accordingly. The immediate option is to short the index futures to hedge. However this may not be a wise thing to do .....yet
All along my view is to turn short at rebounds, so far, I didn't see any sustained rebound and hence have not acted. What's more, with Central Banks and Feds reacting very swiftly to support the financial markets, my short positions have to be timed to near perfection or I risk being caught flat footed. Anticipations of Fed cutting rate in an emergency meeting before September's policy meeting are reported in the market place. If this is true, it will set off a rally in stocks and to me, that will be the best chance to turn long and then get out of the stocks i am holding. Because my anticipations is, interest rate cut may not arrest the problem, it merely slowed down the problem and worse of all, lower interest rate might lead to another new problem. Indeed, financial market has a self correcting mechanism running....
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Isn't financial market interesting? When markets are soaring high, everyone is worried about the bubble in China. But guess what? Uncle Dow was the culprit that punctured the bull run. While I managed to side step the bears by liquidating my whole portfolio when I first detect signs of troubles using Technical Analysis, I am still caught by my initial positions to rebuild my portfolio. I went back into the market too early. If not for the pocketing of profits by liquidating my portfolio , surely i would have commited the sin i was so good at..... turning profits into losses. I would need to reassess my views on where the market is likely to head and then act accordingly. The immediate option is to short the index futures to hedge. However this may not be a wise thing to do .....yet
All along my view is to turn short at rebounds, so far, I didn't see any sustained rebound and hence have not acted. What's more, with Central Banks and Feds reacting very swiftly to support the financial markets, my short positions have to be timed to near perfection or I risk being caught flat footed. Anticipations of Fed cutting rate in an emergency meeting before September's policy meeting are reported in the market place. If this is true, it will set off a rally in stocks and to me, that will be the best chance to turn long and then get out of the stocks i am holding. Because my anticipations is, interest rate cut may not arrest the problem, it merely slowed down the problem and worse of all, lower interest rate might lead to another new problem. Indeed, financial market has a self correcting mechanism running....
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Friday, August 10, 2007
Monday, August 06, 2007
STI Exhaustion Gap?
Following last Friday's sell off in US, STI had a huge gap down which promptly broke the 3400 perceived as a strong support last week. We have now closed below an important trendline support. I observed that the closing today was at resistance turns support and also at Fibonacci 50% retracement, rebound can be on the cards. Hence I turned long one STI CW. One can feel despair, fear and panic in the current market with many decided to throw in the towel. I went long because i see this gap down a possible bottom. Otherwise 200MA here we come...
DJ is now trading around 13,200 support and Fed's meeting is on Tuesday night. If only they hint about reducing the interest rate.....
GrowMoney Growth Fund
Jasper
HLH
Poh Tiong Choon
Yongnam
LC Dev
TiongWoon
STI CW
*Added STI CW today
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Thursday, August 02, 2007
Technical Analysis Case Study on HSI
When Hang Seng Index(HSI) broke through to 23,500 levels, it was observed that a negative divergence is forming on the Histogram. It served as a warning that the current trend is losing strength. Now, we are experiencing a global sell off and fear is in the air. Using Technical Analysis, let us look at 1 possible support level for HSI. As highlighted, we will be looking at if the orange trendline can turn from resistance to support. 50 days Moving Average is also nearby and we might see confluence of signals.
You may also want to discuss about technical analysis in our forum.
Global indices charts are available in our ChartNexus Charting Software.
Download your FREE professional charting software
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Wednesday, August 01, 2007
Tuesday, July 31, 2007
Price Precedes News
I would think, we are not out of the woods yet. I'm gonna be patient and wait for the market to show me a bottom before I start to build my portfolio again. First rebound is nothing to be excited about. It's how the market test the previous low that matters. Things to watch out would be price actions, more selling or more buying. But before I build my portfolio, index is the other option where we can trade to cover paper losses. Last Friday my order for STI call warrants was not filled. I won't regret queing at the bid side and not buying from the offer side because it was an elephant spread and I will be paying higher premium for unneccesary risk. Market is always there, I will wait for another glorious opportunity to pull trigger.
Tonight we shall visit two charts namely StraitsAsia and Midas to show you how price movement precedes news. I just hate this part of the market. The more informed always has this advantage over us small retailers. There are 2 ways we can protect ourselves in this kind of scenario. Either you buy below the intrinsic value of the company and be an investor with a longer term horizon, or you use Technical Analysis to study the trails left behind by the big boys. When big boys run road, you don't want to be caught ball watching.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Tonight we shall visit two charts namely StraitsAsia and Midas to show you how price movement precedes news. I just hate this part of the market. The more informed always has this advantage over us small retailers. There are 2 ways we can protect ourselves in this kind of scenario. Either you buy below the intrinsic value of the company and be an investor with a longer term horizon, or you use Technical Analysis to study the trails left behind by the big boys. When big boys run road, you don't want to be caught ball watching.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Thursday, July 26, 2007
Protected My Profits
With US opening down almost 150 points, we are very close to breaking the support I concluded yesterday. Best scenario is for it to trade and form a base here. Current mood in the market is very nervy. Again the rally this morning was an opportunity to sell. By closing so much lower today, we look set to see a hanging man on the weekly chart. For now, I shall highlight what is going on from STI point of view.
Summary of Observations lately:
1) Index stocks got whacked
2) Sector rotation was very fast, like dumping at rallies
3) Every rally fails and got shot down
4) Property stocks gone quiet since April and some even are in downtrend
Today I took my profits for Hiap Seng when I again saw that there were broad market selling. This isn't normal at all. Tonight with wall street's huge loss.... tomorrow morning... no eyes see.. all I can hope for is not a big gap down for I know many people are still holding on to their shares. With blood being spilled in wall street, i'm glad last week I locked in all profits to avoid risk. You must already have a trading plan and know exactly what you will do when crisis hits. No use planning what to do when crisis hit because your emotions will rule you instead.
I have receive so many emails wanting to join me. :) I will reply to each one of you. But i have also stop looking so those who missed it....wait for next round. :)
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Summary of Observations lately:
1) Index stocks got whacked
2) Sector rotation was very fast, like dumping at rallies
3) Every rally fails and got shot down
4) Property stocks gone quiet since April and some even are in downtrend
Today I took my profits for Hiap Seng when I again saw that there were broad market selling. This isn't normal at all. Tonight with wall street's huge loss.... tomorrow morning... no eyes see.. all I can hope for is not a big gap down for I know many people are still holding on to their shares. With blood being spilled in wall street, i'm glad last week I locked in all profits to avoid risk. You must already have a trading plan and know exactly what you will do when crisis hits. No use planning what to do when crisis hit because your emotions will rule you instead.
I have receive so many emails wanting to join me. :) I will reply to each one of you. But i have also stop looking so those who missed it....wait for next round. :)
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Wednesday, July 25, 2007
Volatile Market
Last Friday I was already preparing for a stormy week ahead and I observed the price actions with keen interest. Every rally was shortlived and sellers were out in full force driving prices to close flat or lower. I do not like this kind of action. Furthermore, I observed since the rebound, the market rotated very fast and quick as if prices were jacked up to offload.
We had it easy during the last few months where stocks just flew up the charts. Now is the time where the informed market participants will be able to separate themselves from the misinformed. The question on everyone's mind (including mine), isit time to buy now? I must admit, it is very easy to be tempted by the "cheaper" prices we are seeing now. If i buy because I think the prices are cheap then I am not following my trading rules. Deep inside me, I know what is the consequences of not following my own trading rules and system. Also, I never forget what the great Livermore said in his book, "There are times to buy or sell, there are also times where we need to stand aside".
Since I have pocketed profits build up from March'07 shopping spree, I need to rebuild my portfolio again. I just love this game! The market is behaving very oddly and certainly risk is in the air. However, not all stocks will go down. Hence my job is to still find a trending stock in the right industry and ride on it. Slowly but surely i will be purchasing cautiously without over exposing myself to high risk. For many of my students, this is a great chance for you to witness how i shall walk the talk. I won't win all the time, but it is important for you to observe how I win more when i'm right and lose small when i am wrong. Infact, I shared the statistics of my MacD Trading System to the participants of the recent workshop, it only has an accuracy of 30% at most but guess what? The returns is as high as 100% ROI (profit reinvested).
I charted Dow Jones and found possible support levels 13,600 and 13,200.
GrowMoney Growth Fund
Jasper
HLH
Poh Tiong Choon
HiapSeng
Yongnam
LC Dev
TiongWoon
*Added Tiongwoon today
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
We had it easy during the last few months where stocks just flew up the charts. Now is the time where the informed market participants will be able to separate themselves from the misinformed. The question on everyone's mind (including mine), isit time to buy now? I must admit, it is very easy to be tempted by the "cheaper" prices we are seeing now. If i buy because I think the prices are cheap then I am not following my trading rules. Deep inside me, I know what is the consequences of not following my own trading rules and system. Also, I never forget what the great Livermore said in his book, "There are times to buy or sell, there are also times where we need to stand aside".
Since I have pocketed profits build up from March'07 shopping spree, I need to rebuild my portfolio again. I just love this game! The market is behaving very oddly and certainly risk is in the air. However, not all stocks will go down. Hence my job is to still find a trending stock in the right industry and ride on it. Slowly but surely i will be purchasing cautiously without over exposing myself to high risk. For many of my students, this is a great chance for you to witness how i shall walk the talk. I won't win all the time, but it is important for you to observe how I win more when i'm right and lose small when i am wrong. Infact, I shared the statistics of my MacD Trading System to the participants of the recent workshop, it only has an accuracy of 30% at most but guess what? The returns is as high as 100% ROI (profit reinvested).
I charted Dow Jones and found possible support levels 13,600 and 13,200.
GrowMoney Growth Fund
Jasper
HLH
Poh Tiong Choon
HiapSeng
Yongnam
LC Dev
TiongWoon
*Added Tiongwoon today
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Monday, July 23, 2007
Bears tried, Bulls won
I thought today's market will be a sea of red after the weak closing in US. Nikkei started as worse as it can get (-200) when we opened at 9am. There were indeed selling. However much to the delight of many, we showed strength and closed mixed with a tint of rotational buy ups.
GrowMoney QuickPicks
Aqua-Terra
Courage Marine
Heeton
Pan Hong
TechComp
I added LC Development and Yongnam last Friday. Perfect timing as constructions taking a breather today... #@!$!#@$%#$%#@#
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
GrowMoney QuickPicks
Aqua-Terra
Courage Marine
Heeton
Pan Hong
TechComp
I added LC Development and Yongnam last Friday. Perfect timing as constructions taking a breather today... #@!$!#@$%#$%#@#
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Friday, July 20, 2007
GrowMoney Blog Privatised!
Dearest all,
Do not be alarmed by the new look. You have come to the right site. The story goes like this, I was offered to take my blog private and host on a domain instead of blogspot.... F.O.C! After weeks of negotiations, MOU was signed and today phase 1 launch! You will see more good stuffs on this site in the near future! :) Would you want a space to chart perhaps? or an alert to flag impt price movements? Soon...... Huat arh!!
Today I sold ChinaTrans when Midas drop like a stone due to some negative rumour. It reminded me of the days when CAO got into trouble and the rest of the red army got whacked. I feel safer to hold offshore sector stocks for now and still favour them. The developer charge tax has got nothing to do with them. Hence they are innocent in the panic selling. With 70% cash, there is alot I can do. : )
Historically whenever DJ is testing round numbers 11k,12k,13k,14k it breaks through for a few sessions and then retrace. Hence next week, i will watch for negative price movement.
The rebound today is very strong. Tomorrow we should be green green and it will be natural for profit taking to take place at the end of the session. If i like the price actions accross the board, I will look to add shares into my growth fund.
Update about 4th August 2007, Cracking the Stock Market Code Intake 16
There are ONLY 9 SEATS LEFT!
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Do not be alarmed by the new look. You have come to the right site. The story goes like this, I was offered to take my blog private and host on a domain instead of blogspot.... F.O.C! After weeks of negotiations, MOU was signed and today phase 1 launch! You will see more good stuffs on this site in the near future! :) Would you want a space to chart perhaps? or an alert to flag impt price movements? Soon...... Huat arh!!
Today I sold ChinaTrans when Midas drop like a stone due to some negative rumour. It reminded me of the days when CAO got into trouble and the rest of the red army got whacked. I feel safer to hold offshore sector stocks for now and still favour them. The developer charge tax has got nothing to do with them. Hence they are innocent in the panic selling. With 70% cash, there is alot I can do. : )
Historically whenever DJ is testing round numbers 11k,12k,13k,14k it breaks through for a few sessions and then retrace. Hence next week, i will watch for negative price movement.
The rebound today is very strong. Tomorrow we should be green green and it will be natural for profit taking to take place at the end of the session. If i like the price actions accross the board, I will look to add shares into my growth fund.
Update about 4th August 2007, Cracking the Stock Market Code Intake 16
There are ONLY 9 SEATS LEFT!
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
Thursday, July 19, 2007
Market flipped by the bears
3 pieces of news rocked the market yesterday.
1. Govt issued a new ruling to cool property sector
2. US hedge fund went burst
3. Rumours has it that there will be trading curb due to recent fanatic surge in penny shares
Now we know why property counters ain't moving recently despite STI goes into unchartered waters. Well what's new? Price actions always come before news. US hedge fund went burst is nothing new. So what in the world happened?
Last night US showed some strength when it manages to close a small red. Nikkei had already gap up and rebound. We are poised to rebound too. Watch for strength in the rebound for clues of if this is just a blip in the uptrend.
As for construction and property sector, i be watching how market react to the new ruling.
I sold Noble, StraitsAsia, Swiber, Yongnam, CSC during the plunge yesterday. Even if market was to rebound from here, i have no regrets. As traders, the most important thing is to manage our risk and protect our profits. If everything is fine, we can always buy back what we have sold.
GrowMoney Growth Fund
Jasper
HLH
ChinaTranscom
HiapSeng
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
1. Govt issued a new ruling to cool property sector
2. US hedge fund went burst
3. Rumours has it that there will be trading curb due to recent fanatic surge in penny shares
Now we know why property counters ain't moving recently despite STI goes into unchartered waters. Well what's new? Price actions always come before news. US hedge fund went burst is nothing new. So what in the world happened?
Last night US showed some strength when it manages to close a small red. Nikkei had already gap up and rebound. We are poised to rebound too. Watch for strength in the rebound for clues of if this is just a blip in the uptrend.
As for construction and property sector, i be watching how market react to the new ruling.
I sold Noble, StraitsAsia, Swiber, Yongnam, CSC during the plunge yesterday. Even if market was to rebound from here, i have no regrets. As traders, the most important thing is to manage our risk and protect our profits. If everything is fine, we can always buy back what we have sold.
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DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
Tuesday, July 17, 2007
Uneasy Divergence
This is the second session where we open higher only to close lower. Intra day wise, selling seems to be well absorbed. But clearly the buying mood was not present.
Again, in my screening, i observed property counters are still weak and STI is showing a negative divergence. Plenty of forgotten stocks started to rally. These are textbook warning signs. With Dow Jones holding well and advancing, we could be dragged along without convictions. Price objective of Dow Jones is within grasp and with earnings season coming up, i wonder if there will be a sell on confirmation(good numbers were expected) situation. 18th July will see first set of inflation data being read. With such a ferocious rally, there are plenty of room to fall if the numbers turn out unfriendly.
Last Friday added ChinaTranscom to my growth fund.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
Again, in my screening, i observed property counters are still weak and STI is showing a negative divergence. Plenty of forgotten stocks started to rally. These are textbook warning signs. With Dow Jones holding well and advancing, we could be dragged along without convictions. Price objective of Dow Jones is within grasp and with earnings season coming up, i wonder if there will be a sell on confirmation(good numbers were expected) situation. 18th July will see first set of inflation data being read. With such a ferocious rally, there are plenty of room to fall if the numbers turn out unfriendly.
Last Friday added ChinaTranscom to my growth fund.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
Friday, July 13, 2007
Case Study: Adv Hldg
SINGAPORE: Adv Hldg finished the recent session with an interesting candle on high volume. It was observed that 20 Days Moving Average provides excellent support during the uptrend. The stock is stuck in the range between $0.53 and $0.57 for now. With RSI in oversold region, the stock is poised for a rebound. It will be interesting to observe if this stock can breakout.
Find out what others think about here.
My anticipations of the Market direction came true, I may have to sell one or two stocks to raise funds for another stock i am eyeing. It always make perfect sense to sell on the way up.
Registration for Cracking the Stock Market Code Intake 16 is now on! I am terribly sorry to people I have to turn away as intake 15 was sold out 1 week before the event. Now that intake 16 is opened, I hope to see you there. Also, if you look at my upcoming events right at the top of the page, you should know why i am seldom online these days. It's a crazy July for me.... bridal shoot, renovations (HEADACHE), career switch and 5 speaking engagements! For those going to get married sooner or later, please space out your activities....otherwise you end up like me, panda eyes! Fortunately, trading has been smooth. This is why it is important to have a trading system that you can trust and depend on. Market moves in a non random way, a trading system is your key to time your entries and exits.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
Wednesday, July 11, 2007
Case Study: StraitsAsia
Adapted from ChartNexus Technical Analysis Case Study Series
The stock is in a near term downtrend and trading near it's near term support at 1.40. At the same time, it is sitting on a trendline support. It was under selling pressure over the last couple of weeks and we see 1.58 as a near term resistance. Support can be taken at the recent low on the 28th June 2007. It was further observed that RSI indicator is in oversold and a rebound can be on the cards. 20 Days Moving Average has been a good support for StraitsAsia as highlighted in yellow.
Find out what others think about this stock here.
Download your FREE professional charting software or find out how to automate your stock selection.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
The stock is in a near term downtrend and trading near it's near term support at 1.40. At the same time, it is sitting on a trendline support. It was under selling pressure over the last couple of weeks and we see 1.58 as a near term resistance. Support can be taken at the recent low on the 28th June 2007. It was further observed that RSI indicator is in oversold and a rebound can be on the cards. 20 Days Moving Average has been a good support for StraitsAsia as highlighted in yellow.
Find out what others think about this stock here.
Download your FREE professional charting software or find out how to automate your stock selection.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings. Copyright © 2006 GrowMoney Blog. All rights reserved.
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